Vista Outdoor Reaches Agreement to Sell Sporting Products Business

Vista Outdoor Inc. has recently announced a significant development in its corporate strategy. The company has entered into an agreement to sell its sporting products business to Czechoslovak Group a.s. (CSG) in a cash transaction worth $1.91 billion.

Advancing the Separation Plan

This deal marks an important milestone in Vista Outdoor's plan to separate into two distinct entities. The outdoor products business, which has been recently rebranded as Revelyst, will operate as an independent public company following the successful conclusion of this transaction.

Strong Financial Support

To facilitate this transaction, Vista Outdoor has secured $1.1 billion in fully committed debt financing, with CSG providing the remaining funds. This financial backing ensures the smooth execution of the deal, which is expected to be finalized by 2024.

Preserving Employee and Brand Integrity

Throughout this transition, Vista Outdoor remains committed to maintaining its dedicated workforce and the integrity of its renowned consumer brands. The approximately 4,000 employees associated with the sporting products business, along with the four factories and well-established brands including CCI, Federal, HEVI-Shot, Remington, and Speer, will continue to be part of the company.

A Successful Partnership

Czechoslovak Group a.s. (CSG), fully owned and led by Michal Strnad, has emerged as an international powerhouse. With over 10,000 employees and a diverse portfolio comprising industrial and trade companies across defense and civil sectors, CSG is well-equipped to take on the reigns of Vista Outdoor's sporting products business.

This exciting development has generated keen interest, resulting in a trading halt for Vista Outdoors' stock prior to the official announcement.

Stay tuned for further updates on this industry-shaping deal.